27 Sep 2013
USD/JPY capped at 99 zone on reversal day
FXstreet.com (Chicago) - USD/JPY broke through two resistances towards the end of the American trading session on Thursday. The pair oscillates around the 98.90 zone ahead of Japanese CPIs and Tokyo’s opening.
Data recap
At 23:30 GMT, the national CPI will be released in Japan along Tokyo’s consumer price index, foreign bond investments and foreign investment in the country’s stocks. After Wall Street pulled off gains to break the 5-day losing strike, largely fueled by improved US job market data, the greenback strengthened.
USD/JPY Technical Levels
Technically speaking, the pair trades at 98.93 and oscillates between the supports aligned at 98.73 (September 26th highs), 98.45 (September 15th lows) ahead of 98.16 (August 16th highs) and the resistances set at 99 (September 12th lows), 99.38 (September 16th highs) followed by 99.67 (September 19th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis and navigates above the EMA20, extending the bullish channel that yesterday.
Data recap
At 23:30 GMT, the national CPI will be released in Japan along Tokyo’s consumer price index, foreign bond investments and foreign investment in the country’s stocks. After Wall Street pulled off gains to break the 5-day losing strike, largely fueled by improved US job market data, the greenback strengthened.
USD/JPY Technical Levels
Technically speaking, the pair trades at 98.93 and oscillates between the supports aligned at 98.73 (September 26th highs), 98.45 (September 15th lows) ahead of 98.16 (August 16th highs) and the resistances set at 99 (September 12th lows), 99.38 (September 16th highs) followed by 99.67 (September 19th highs). According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis and navigates above the EMA20, extending the bullish channel that yesterday.